Conditions continue to look good for our current analog officially kicking off in 7 sessions. VIX reversed (again) at the fan line off the May 9 highs and backtested an alternate channel bottom — nudging ES higher after a fairly ugly Wednesday.
Oil and gas are closing in on our next downside targets — confounding the “experts.” But, for now, futures are leaking higher and about to test the latest minor obstacle in hopes that the Fed will make everything better. Spoiler alert: it won’t.
Speaking of spoilers…DB has punted on its latest opportunity to break out.
And, BA somehow continues to remain aloft. The real test would be at the purple channel top. Note that it still “owes” us a dip to 325.42.
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